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Wednesday, January 5, 2011

A Michigan Short Sale Will Be a Great Investment in a Few Years

If you are looking for great investment properties in the residential real estate market, consider a Michigan short sale. We've all heard the dismal news coming out of the auto industry, and Michigan has one of the higher foreclosure rates in the US, brought on by aggressive lending and the weakness in the job market in Michigan. Normally one picks markets that show promise of coming back soon, but the values of a Michigan short sale are compelling for investors.

Some of the home foreclosures and short sales in Michigan are incredible values. The market in Michigan will come back, especially once the auto industry starts to show signs of recovery in 2011. The auto bail out will eventually help, and the State of Michigan has put incentives in place to attract more alternative energy industries to the state. Since Michigan has a huge infrastructure already in place for durable manufacturing, once the wheels start to turn, any investor with properties that were purchased as a short sale or a home foreclosure will appreciate fairly rapidly. Jobs will eventually come back, and a property that was purchased for $40,000 to $70,000 will certainly gain in value once job-related housing demand comes back.

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